Join SFOG and FutureVault for an exclusive webinar on April 25th 2:00 p.m. ET. Webinar RSVP Link
The Great Wealth Transfer: How To Retain Family Assets And Relationships During The Great Wealth Transfer
The current demographic shift that is taking place in the United States, Canada, and other developed countries is resulting in a massive transfer of wealth from older generations to younger ones.
Over the next several decades, trillions of dollars will be passed down from baby boomers to their children and grandchildren. This transfer of wealth, known as the “great wealth transfer,” presents both challenges and opportunities for financial advisors and institutions.
One of the main challenges that financial advisors, firms, and institutions will face as a result of the great wealth transfer is the ability to retain family assets.
As older generations pass away, their assets will be transferred to the next generation, who may choose to take their business elsewhere if they feel that they are not receiving exceptional value from their current advisor or institution.
In fact, according to the latest Cerulli Edge—U.S. Advisor Edition, more than 70% of heirs are likely to fire or change financial advisors after inheriting their parents’ wealth. This makes it more important than ever for advisors to establish an intergenerational continuity plan to retain assets.
For more information please contact Matthew T. Sheridan at Matthew@SpotlightFamilyOffice.com.